Mitt Romney raises more than $18M in second quarter

Former Massachusetts Gov. Mitt Romney (R) raised $18.25 million before the end of June to support his presidential campaign, his campaign announced on Wednesday.

Romney, the putative front-runner for the GOP nomination, announced the hefty sum, which included contributions from all 50 states and the District of Columbia. The campaign has $12.6 million in cash on hand.

“Voters are responding to Mitt Romney’s message that President Obama’s policies have failed and that we need new leadership in Washington," said Spencer Zwick, the campaign's finance chairman. "Our fundraising for the second quarter represents the strong support Mitt Romney has across the country.”

That sum fits within the $15 million to $20 million range that Romney's campaign had said it would report; the campaign raised $10 million in a single day's effort shortly after Romney formally launched his exploratory committee.

More importantly, Romney's major haul seriously outpaces what other contenders have reported having raised. Rep. Ron Paul (R-Texas) has raised the most among the other candidates to have announced their totals, having raised $4.5 million by the end of the second quarter.

Former House Speaker Newt Gingrich (R-Ga.) announced his numbers late last night, which includes $2 million raised but almost $1 million in debt, and $225,000 in cash on hand.

Romney's critics were quick to note that his fundraising during this quarter was actually down versus the same comparable quarter during his 2007 campaign, when he raised more than $23 million, including a contribution of several million of his own personal fortune. The campaign was also under way much earlier that cycle, with virtually all candidates having entered the race during the first quarter of 2007, if not earlier.

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